Tax cap shrinks further for schools, villages

10:55 PM,
Dec. 20, 2013

New York Comptroller Thomas DiNapoli sits down for an interview with The Journal News' editorial board May 10, 2012.

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Schools and villages will be squeezed even further by the property-tax cap next year.

The tax-levy cap for schools and villages will be between 1.42 percent and 1.55 percent, down from 2 percent this year, the state Comptroller's Office said Friday.

The cap is calculated each year by the Comptroller's Office based on rate-of-inflation projections from the state Budget Division. The cap is either 2 percent or the inflation rate, whichever is lower. ...